Lawyer Liu Yang: The Intricacies of the Capital's Pioneering New Channel for Virtual Currency Disposal

According to lawyer Liu Yang, the work was specifically completed by a wholly-owned subsidiary, Beijing Zhongtianfeng Security Protection Technology Co., Ltd., and the bank that cooperated with Zhongtianfeng Company in handling the situation was the CITIC Bank system. Zhongtianfeng Company and CITIC Bank jointly developed the "Virtual Currency Disposal and Reflux Clearing System". The system has been deployed and launched on the public security intranet, and has been reported to the People's Bank of China and the State Administration of Foreign Exchange for filing and approval.

After the disposal is completed, the funds will first go to the Hong Kong branch of CITIC Bank, and then flow back to the Beijing branch of CITIC Bank in China through the internal account fund clearing channel after being registered with the central bank and the State Administration of Foreign Exchange. Funds will be collected through this account to complete the collection, declaration, settlement and transfer of funds. The exchange list is "Overseas Assets Confiscated Non-Tax Revenue".

During the entire disposal process, some links can be replaced. For example, the Beijing Municipal Public Security Bureau cooperates with the Beijing Equity Exchange, and the Suzhou Municipal Public Security Bureau relies on the state-owned enterprise Suzhou BiDa Digital Asset Service Center.